STR: U.S. Hotel Results For Week Ending 15 August
HENDERSONVILLE, Tennessee - U.S. weekly hotel occupancy hit 50.0% for the first time since mid-March, according to the latest data from STR.
- Occupancy: 50.2% (-30.0%)
- Average daily rate (ADR): US$101.41 (-23.0%)
- Revenue per available room (RevPAR): US$50.87 (-46.1%)
U.S. occupancy has risen week over week for 17 of the last 18 weeks, although growth in demand (room nights sold) has slowed. The week ending 14 March was the last with occupancy of at least 50.0%.
Aggregate data for the Top 25 Markets showed lower occupancy (42.2%) and ADR (US$99.29) than all other markets.
Norfolk/Virginia Beach, Virginia, was the only one of those major markets to reach a 60% occupancy level (65.3%).
Four additional markets reached or surpassed 50% occupancy: Philadelphia, Pennsylvania-New Jersey (52.7%); San Diego, California (51.8%); Detroit, Michigan (51.5%); and Los Angeles/Long Beach, California (50.8%).
Markets with the lowest occupancy levels for the week included Oahu Island, Hawaii (22.8%), and Orlando, Florida (29.9%).
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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